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Illinois Predatory Loan Prevention Act. Repeals the tiny Loan section of this CILA that formerly permitted for tiny loans in excess of 36per cent as much as $4,000;

Illinois Predatory Loan Prevention Act. Repeals the tiny Loan section of this CILA that formerly permitted for tiny loans in excess of 36per cent as much as $4,000; The ILPLPA offers the after significant modifications towards the current Illinois customer Installment Loan Act (“CILA”), 1 the Illinois Sales Finance Agency Act (“SFAA”), 2 together with Illinois Payday Loan Reform Act (“PLRA”) 3 : Imposes a 36% rate of interest limit, determined according to the Military Lending Act 4 on all

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